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WPG (TSE:3702) Reports 2013 Consolidated Sales exceeded NT$400 Billion and EPS was NT$2.87

 2014-02-10

WPG (TSE:3702) Reports 2013 Consolidated Sales exceeded NT$400 Billionand EPS was NT$2.87

 

2014/02/11

 

Benefited from increased demand and growing shipments of smartphone and tablet, combined with fast development on applications of mobile communication and cloud computing, WPG, the largest distributor of semiconductor components in Asia, announced its 2013 consolidated sales of NT$406.2 billion, set the group’s record high. Operating profit and net income was NT$6.258 billion and NT$4.762 billion respectively, EPS was NT$2.87 per share.  

 

For the forth quarter of 2013, consolidated sales was NT$111.297 billion and net income was NT$1.011 billion, represented 23% and 7.2% increase over previous year’s figures. Benefited from effective expense control, OPEX were cut down to NT$3.123 billion. EPS was NT$0.61 per share.

 

The profit growth has been delivered by domestic demand of emerging markets. Contribution of 3C products such as mid to high-end and low-end smartphone, tablet, wireless broadband and STB were continued growing. Non-3C segments’ contribution such as automobile, medical and industrial electronics remained healthy. Forth quarter’s Operation Cash Flow was NT$1.56 billion and Inventory turnover days decreased to 32 days. Key financial indices of 2013: Return on Working Capital (ROWC) and ROE was 9.1% and 12.2% respectively.

 

Management guides the total sales of first quarter 2014 will be between NT$95 billion and NT$ 100 billion, with the gross margin in the range of 4.3%~4.6% and the operating margin between 1.4%~1.65%.

 

In the forth quarter of 2013, 38 application solutions were provided in the fields of cell phone / communication (13), consumer (13), computer (including Tablet)/ peripheral (7) and Industrial (5), focusing on applications of remote medical care, wireless communication, multimedia box, STB, lighting, small home appliance, server and power supply.

 

Table: WPG Holdings Consolidated Management Financials for the year ended December 31, 2013. (in brief)

 

                                                                                                                           Units:NT$ million

Income Statement (2013/1/1~2013/12/31)

 

Balance Sheet (2013/12/31)

Item

Amount

 

Item

Amount

Net Sales

406,268

 

Current Assets

120,639

Cost of Goods Sold

(387,701)

 

 Accounts receivables

71,885

Gross Profit

18,567

 

 Inventory

34,496

Operating Expenses

(12,309)

 

Other assets

14,286

Operating Profit

6,258

 

Total Assets

134,924

Non-op Expenses

(452)

 

Current Liabilities

91,076

Profit Before Tax

5,806

 

 Current Borrowing

47,817

Tax

(1,040)

 

 Accounts payables

37,845

Minority & Others

(3)

 

LT Liabilities

3,232

Profit After tax

4,762

 

Total Liabilities

95,042

EPS (Note)

2.87

 

Common Stock

16,557

Net book value per share (Note)

24.03

 

Stockholders Equity

39,882

Note:Based on weighted average outstanding shares.

 

 

Cash flows (2013/1/1~2013/12/31)

Item

Amount

Income before Income Tax

5,806

Change in NWC

(8,898)

Operating cash inflow /(outflow)

(4,570)

Investment cash inflow /(outflow)

(347)

Change in Financial Debt

8,499

Cash Dividend

(3,974)

Financing cash inflow /(outflow)

4,527

Cumulative translation adjustments

952

Net Cash

561

Beginning cash balance

8,872

Ending cash balance

9,433

 

IR contacts:Cliff Yuan/ Kathryn Chen / Zoe Peng

Tel:886-2-7712-5268 / 886-2-7712-5278 / 886-2-7712-5262

Email address: ir@WPGholdings.com

Corporate website: www.WPGholdings.com